Home > Friday Round Up: Lunar New Year, The ills of capitalism, Grim EM news, Lin on ditching the dollar, and a Call for a third industrial revolution

Friday Round Up: Lunar New Year, The ills of capitalism, Grim EM news, Lin on ditching the dollar, and a Call for a third industrial revolution

Submitted by LTD Editors
On Fri, 01/31/2014

To usher in the Lunar New Year read this Jakarta Post piece [1]on the high-spirited Year of the Horse.

John Hilsenrath warns in Central Station on the WSJ Real Time Economix blog that there may be 'No Bottom in Sight for Emerging Markets[2]' and he uses a chart from the World Bank's Global Economic Prospects to make his point.

India, Turkey and South Africa have all raised interest rates this week. This was in part to stop sharp devaluations fuelling inflation as investors switch into recovering developed countries such as the US. India‘s central bank governor has hit out at the US and other industrialised countries [3]for running selfish economic policies.

Former World Bank Chief Economist Justin Lin argued[6] at a seminar at the thinktank Bruegel for replacing the US dollar as a reserve currency with a single global super-currency, saying it will create a more stable global financial system.